How Long are Homes For Sale in Fort Collins Sitting on the Market?
Listing information pulled from IRES, Northern Colorado’s Multiple Listing Service
DOM – Days on Market – Total days that the property was actively being marketed for sale.
DTO – Days to Offer – When the final offer was made by they buyer and accepted by the seller. The acceptance of offer usually initiates a ‘due diligence’ period, which lasts from about 30-45 days for residential property.
DTS – Days to Sale – Total days. Often, as in both of these examples, mimics the Days on Market.
Hover over or tap anywhere on the chart for TIME SPECIFIC data for each price point!
Days on market for homes for sale in Fort Collins, Colorado, as you can see, is quite minimal. I’ll explain the Realtor® terms and real estate side of it.
A home or a piece of real property, structures on it, electricity, water and sewer, is a big ticket item. It’s the single largest thing that many people purchase. In the past, agents have been known to coach their clients to expect their home to take 1-4 months to sell. And, as we move up in price range, the more expensive properties would be expected to take six months, or even more than a year to sell, and it was considered a reasonable amount of time.
Now? Not so much.
Fort Collins Homes For Sale
Days on Market – Median
$250,000 – $349,999 – 42 Days on Market
$350,000 – $450,000 – 44 Days on Market
$650,000 – $750,000 – 58 Days on Market
$850,000 – $950,999 – 57 Days on Market
The InfoSparks chart is a LIVE CHART, which updates every month so the data surrounding it in this blog post may cease to reflect what is happening as the situation and data changes. Check post publish date, or contact Paul with questions.
So, what can we learn here?
This data is a good guide, but don’t set your clocks by it. When a property has sat on the market for too long, agents have skills and tricks they use so that it doesn’t look like the home has a problem with it, which can happen if a property sits on the market for too long. They can pull the listing completely off, and then list it again a few days later to get a fresh start, thereby starting the published days on market time over. This is an industry technique that in my opinion isn’t inherently bad because things happen in the wild world of real estate, and sometimes a property needs a short break and then a fresh start.
Also, you see that the $850-950k range has shorter days on market than the $650-$750k range. How can this happen. Data is complicated and micro events can affect the numbers as we look at them on the macro level. Perhaps there were just more people in the high price range last month than there were in the past, or that there will be in the future.
The lesson here is that the market is becoming more and more challenging, so prepare yourself as much as possible when you are thinking of buying property. More importantly, prepare your team—have a great Realtor® (like me), a great lender, a great title company, and make sure that your network knows what you are doing so that they can connect you with buyers, sellers, or other people who can help.
Check out this blog post detailing how much sellers were receiving compared to how much they asking when selling their Fort Collins property.
We are in a time of great change. The Internet is creeping into every aspect of our lives. What affect is it having on Colorado’s real estate industry?
Realtor® Paul Wozniak
Realtor® | Associate Broker | RE/MAX Alliance Fort Collins
Realtor® Paul Wozniak serves in Colorado, helping people buy and sell residential real estate, land and commercial property.
Paul specializes in communication and helping his clients make sound decisions with regards to real estate.